Ready to loose your pocket !
Wednesday - April 25, 2018 11:00 am ,
Category : WTN SPECIAL
If your account is in State Bank of India, HDFC Bank, ICICI Bank, Axis Bank or in Kotak Mahindra Bank then you should be ready to loose your pockets, because the tax department has asked to send a notice to these banks to pay tax. According to the information, the tax department has demanded tax for the free services given to the customers on keeping Minimum Account Balance.
For your information, customers who have minimum balance in their account, the bank offers free ATM transactions, check book and debit card free of cost to the bank. If the bank pays the tax demanded by the tax department, then it is believed that customers will have to pay this tax. It is certain that the customers' pockets of these banks will be loose.
The notice issued by the Directorate General of Goods and Services Tax Intelligence (DGGST) is also likely to be sent to another banks. According to the information, this tax is being sought for the last five years. This is being demanded for the period in which cases of old service tax can be opened. This tax is calculated on behalf of the banks after seeing the charge from the customers who have made the minimum balance in their account Not completed.
But this notice of tax department has become a big headache for the banks. Banks do not understand how to recover taxes from customers. If this happens then the amount of this tax can be in thousands of crores rupees.
Demonetization then GST and then from time to time due to the lack of notes in the ATM, customers are getting angry with the banks and if such a new fee is charged then it is natural for the customers to get angry. In such a case, it may be possible that banks can demand some concession from tax department.Because if it does not happen then the banks will have to bear the resentment of the customers.
